Posts tagged as price of electricity

The price of electricity dropped more than a third in Lithuania in November

Saturday, December 15, 2018

Weather conditions mainly affected power prices last month, Martynas Giga, director of independent power supplier Elektrum Lietuva. “The water level at hydropower plants in the Nordic countries rose slightly last month but remains far below the long-term level, therefore, their production volumes were restricted. However, wind farms produced high volumes of power at the start of the month but production decreased due to cold weather. As a result, power demand grew and…

The Baltic states depend on global climate forecasts

By Vairis Godmanis on Friday, November 2, 2018

The price of electricity in European countries has increased 20-40% this year. This includes a 30% increase in Latvia and Lithuania, says Latvenergo Sales Department manager Guntis Lūsis. According to him, the main factors that affect prices are associated with global raw material markets, regional and access to production sources, as well as wind energy fluctuation, temperature or hydro energy storage changes and price fluctuations for coal and gas. Consumers’…